Engineering & Mining Journal

AUG 2017

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Page 19 of 99

REGIONAL NEWS - EXPLORATION ROUNDUP
18 E&MJ • AUGUST 2017 www.e-mj.com
Iamgold Continues to Hit High-grade
at Monster Lake
Iamgold has reported assay results from
the final 14 drill holes, totaling a little
more than 5,400 meters (m), from a
total of 25 diamond drill holes, totaling
10,657 m, completed during the 2016-
2017 winter drilling campaign at its Mon-
ster Lake joint-venture project 50 kilo-
meters (km) southwest of Chibougamau,
Quebec, Canada. High-grade intercepts
include 3.5 m grading 67.42 grams(g)
per metric ton (mt) of gold, including 1.2
m grading 203.31 g/mt of gold, and 5 m
grading 80.28 g/mt of gold, including 1.8
m grading 208.41 g/mt of gold.
Iamgold holds a 50% interest in the
Monster Lake project. Pursuant to an
earn-in option agreement with TomaGold,
Iamgold can earn a further 25% undivid-
ed interest, for a total of 75%, should it
spend a further C$10 million on the proj-
ect within a seven-year period, beginning
January 1, 2015.
As of early July of this year, Iam-
gold was planning a near-term, 1,600-
m diamond drilling program to test the
gold-bearing structures at Monster Lake
from areas accessible in the summer sea-
son. The results will be incorporated into
the deposit model and may lead to the
completion of an initial mineral resource
estimate by yearend. Further drilling to
evaluate the potential of newly discov-
ered mineralized areas is scheduled for
the coming winter.
Craig MacDougall, Iamgold's senior vice
president, exploration, said, "With all assay
results now in hand from our winter cam-
paign, we are working to revise the deposit
model to better understand the resource
potential of the Megane Zone. Importantly,
the drilling program has continued to iden-
tify new areas of gold mineralization along
the main shear and associated with paral-
lel structures, again reinforcing our view of
the favorable potential for the discovery of
additional mineralized zones."
(www.iamgold.com)
Exploration Briefs
Leagold Mining has reported drilling
results for the first 20 holes of its infill
and step-out exploration program at the
Bermejal Underground deposit at the Los
Filos gold mine in Guerrero state, Mexi-
co. Highlights from the program include
7.2 g/mt over 18.8 m, 6.8 g/mt over 13.3
m, and 26.3 g/mt over 2 m (all capped
grades and true widths).
More than 12,900 m of the 56,000-
m Bermejal Underground program have
been completed. A total of eight diamond
drill rigs and two reverse circulation drill
rigs are on-site. The program will be com-
pleted within 2017, and these drill-hole
results will be incorporated in an updated
resource estimate.
Leagold CEO Neil Woodyer said,
"These drilling results show the consisten-
cy of mineralization along the contacts of
the Bermejal intrusive and sill. Infill holes
are tightening up the drill-hole spacing
and will enable an upgrade of the resource
classification. These holes are also filling
in gaps in the resource model, which,
when combined with the step-out holes,
will increase the overall mineral resource.
"To date, 18 of the 20 holes drilled
have intercepted high-grade mineraliza-
tion. This high success rate also indicates
the potential for both the consistency and
expansion of the deposit."
(www.leagold.com)
Barkerville Gold Mines has announced
additional drilling results from its ongo-
ing, 130,000-m Phase II Island Moun-
tain exploration drilling program on its
flagship Cariboo gold project in central
British Columbia, Canada. The company
is currently exploring and delineating the
Valley and Shaft zones of the project with
seven drill rigs, while an eighth drill rig is
conducting exploratory drilling on Barker-
ville Mountain.
Ongoing drilling in the Valley zone con-
tinues to corroborate veining corridors as
demonstrated by drillhole CM-17-057,
which intersected a broad network of vein-
ing averaging 17.3 g/mt of gold over 7.5
m at vertical depth of 170 m below sur-
face. At the same elevation, 130 m along
vein strike to the southwest, drillhole
CM-17-048 delineated additional veining
grading 12.27 g/mt of gold over 4.55 m.
In a previously unexplored portion of
the Valley zone, another new veining oc-
currence averaging 11.33 g/mt gold over
3 m was discovered at a vertical depth
of 140 m below surface. Because of the
wide hole spacings and scarcity of histori-
cal drilling in these areas, all occurrences
are open for expansion.
"The high-grade vein corridors in the
Valley Zone continue to be identified and
will require infill drilling later in the year,"
Barkerville President and CEO Chris Lod-
der said. "Regional exploration in the
larger land package has been reinitiated
and will continue until late September,
with the objective of advancing future
drill targets."
(www.barkervillegold.com)
has discovered a
new zone of silver mineralization at Cerro
Blanco West on its 100% owned Nueva
Esperanza precious metals project in the
Maricunga district of Atacama province,
Chile. Eight reverse circulation holes to-
taling 1,226 m were completed on the
new target prior to drilling being halted by
the early onset of winter conditions. Inter-
cepts included 60 m grading 67.57 g/mt
of silver from 40 m to 100 m downhole
and 50 m grading 84.04 g/mt of silver
from 62 m to 112 m downhole.
Drilling targeted the northern part of
a 0.4 km by 1.4 km, north-striking geo-
physical anomaly defined by a 2017 IP
and resistivity survey. All drill holes in-
tersected similar silver mineralization,
with sectional interpretation indicating
a broadly sub-horizontal, oxidized, man-
to-like zone generally ranging from 20 m
to 60 m in thickness.
Mineralization remains open to the
north, west, and south while weaker silver
intersections in some of the more eastern
holes suggest possible local attenuation
of mineralization toward the east. Excel -
lent potential is considered to remain
over some 400 m of untested strike of
the resistive corridor immediately south
of the current drilling.
Nueva Esperanza is a feasibility-stage
development project with a current re-
source base of approximately 1.9 million
gold-equivalent oz.
(www.kingsgate.com.au)